Inozyme Pharma, Inc. (NASDAQ:INZY) Sees Significant Increase in Short Interest

Inozyme Pharma, Inc. (NASDAQ:INZY) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 2,580,000 shares, an increase of 8.4% from the March 15th total of 2,380,000 shares. Based on an average daily trading volume, of 611,300 shares, the short-interest ratio is presently 4.2 days. Approximately 6.3% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

INZY has been the subject of several analyst reports. HC Wainwright reissued a “buy” rating and set a $16.00 price target on shares of Inozyme Pharma in a report on Wednesday, March 13th. Wedbush reiterated an “outperform” rating and issued a $15.00 target price on shares of Inozyme Pharma in a research note on Monday, April 8th. Bank of America decreased their price target on Inozyme Pharma from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price objective on shares of Inozyme Pharma in a research report on Tuesday, April 9th.

Inozyme Pharma Trading Up 3.0 %

INZY opened at $4.85 on Wednesday. Inozyme Pharma has a 1-year low of $2.69 and a 1-year high of $7.80. The stock has a market capitalization of $299.58 million, a PE ratio of -3.49 and a beta of 1.37. The company has a current ratio of 13.36, a quick ratio of 13.36 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $6.04 and a two-hundred day moving average price of $4.64.

Inozyme Pharma (NASDAQ:INZY) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.04). As a group, equities analysts anticipate that Inozyme Pharma will post -1.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Inozyme Pharma news, CEO Douglas A. Treco sold 7,523 shares of Inozyme Pharma stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $6.94, for a total transaction of $52,209.62. Following the completion of the transaction, the chief executive officer now directly owns 20,665 shares of the company’s stock, valued at $143,415.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.88% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Inozyme Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the company. Eventide Asset Management LLC acquired a new position in Inozyme Pharma during the 3rd quarter valued at about $13,125,000. FMR LLC raised its holdings in shares of Inozyme Pharma by 229.2% during the third quarter. FMR LLC now owns 2,465,232 shares of the company’s stock worth $10,354,000 after acquiring an additional 1,716,398 shares during the period. BlackRock Inc. grew its stake in Inozyme Pharma by 329.9% in the second quarter. BlackRock Inc. now owns 1,939,660 shares of the company’s stock valued at $10,804,000 after purchasing an additional 1,488,467 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Inozyme Pharma by 30.3% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 5,537,500 shares of the company’s stock valued at $23,258,000 after acquiring an additional 1,287,500 shares in the last quarter. Finally, Blue Owl Capital Holdings LP acquired a new position in Inozyme Pharma in the fourth quarter valued at about $5,410,000. 88.30% of the stock is owned by institutional investors and hedge funds.

Inozyme Pharma Company Profile

Inozyme Pharma, Inc, a clinical-stage rare disease biopharmaceutical company, focuses on developing novel therapeutics for the treatment of vasculature, soft tissue, and skeleton diseases. The company's lead product candidate is INZ-701, a soluble, recombinant, genetically engineered, and fusion protein for the treatment of ENPP1 and ABCC6 deficiencies, as well as patients with end-stage kidney disease receiving hemodialysis.